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El Salvador becomes first country to make Bitcoin Legal Tender!!

On June 9th, 2021, El Salvador became the first country to make Bitcoin a legal tender.

Since Bitcoin is now legal money in El Salvador, capital gains on it will no longer be taxed. Further, El Salvador’s government said it will hold Bitcoin as a reserve asset and offer attractive incentives for individuals and companies to move to the country.

It’s an enormous validation of The Bitcoin Supremacy theme I’ve been pounding the table on for months.

This is what the process of a new asset becoming money looks like – and it’s just getting started. Millions of people worldwide are spontaneously adopting Bitcoin as money because of its superior monetary properties – namely that it is totally resistant to inflation. Soon, billions of people will adopt it.

Bitcoin has a real chance of emerging as the dominant form of money worldwide.

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